The two towers within the overall development were previously known together as the SE7en Residences the Palm. The development has now been given a new brand identity, namely Seven Palm, under the tagline, ‘your exclusive beachfront address’, complete with new logos and updated renders, the developer said in a statement.
The two components, one an investment-only hotel apartments component, and the other a neighbouring residential apartment complex, will be individually rebranded as the Seven Palm Hotel Apartments and the Seven Palm Residences respectively. Abdulla bin Sulayem, CEO, Seven Tides, explained, “We are attracting an exceptionally diverse range of investors from Russia and the UK, to Brazil and Canada and we wanted to clearly differentiate each project and highlight their specific features and potential returns.”
“Each component offers a compelling proposition, based on ROI, location and quality, but they will attract a different type of investor, depending on their risk profile and strategy. The Seven Palm Hotel Apartments are restricted to investors only and offer a guaranteed return of 10% per annum for the first five years, whereas the Seven Palm Residences are open for investors and or owner occupiers without any restrictions but without guaranteed returns,” he said. Construction work on the project – which is Seven Tides’ third project on Palm Jumeirah – started in September 2018, with completion due during Q4 2020.